Code of Virginia § 13.1-504.1. Brokerage services of savings and loan associations, savings banks or service corporations of either; when registration not required.
120 words·~1 min read·
/va/title-13-1/chapter-5/13-1-504-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A savings and loan association or a savings bank, or the service corporation of either, may enter into an agreement with any person or entity which is a registered broker-dealer under the applicable provisions of this chapter and under the Securities Exchange Act of 1934, for the purpose of making brokerage services available to customers of the association or savings bank. The existence of such an agreement shall not of itself be sufficient to require employees of the association, savings bank or service corporation to register as an agent under the provisions of this article, so long as the employees' activities with regard to such brokerage services are limited to the providing of clerical or ministerial services.
1984, c. 334.